Through cross-border strategic alliances, UPI is progressively growing its presence in global marketplaces.
In order to control their spending, Indian tourists overseas had to juggle cash, foreign credit cards, and currency cards for years. But at last, things are starting to change. After revolutionizing payments in India, the Unified Payments Interface (UPI) is now growing globally.
Imagine using your UPI app to make a quick payment at a Singaporean retail shop or a Parisian café by scanning a QR code. Through cross-border strategic alliances, UPI is progressively growing its presence in global marketplaces.
This entails keeping the ease of their bank account close at hand for Indian tourists. Here’s a deeper look at UPI’s international operations and current use locations.
UPI (Unified Payments Interface): What Is It?
The National Payments Corporation of India (NPCI) created the real-time payment system known as UPI (Unified Payments Interface). It allows consumers to utilize a mobile device to conduct quick, safe, and easy transactions across bank accounts.
Important UPI Features:
Instant Transfers: Funds go across bank accounts instantaneously.
Around-the-clock Availability: Every day of the year, UPI is accessible at all times.
Secure: Two-factor authentication and encryption protect transactions.
Simple: Users may make payments using a virtual address (VPA) or QR code.
Interoperable: UPI makes it possible to transact with a number of banks and payment service providers.
How to Use UPI Internationally
Using UPI overseas is just as simple as using it domestically. Do the following:
Install an app that supports UPI and connects it to your Indian bank account, such as Google Pay, PhonePe, Paytm, or BHIM. To pay abroad using UPI, just enable the UPI International option in your app.
Using your app, scan the QR code.
After you enter the amount and make the payment, the system handles the currency conversion and debits the money in Indian rupees.
Get confirmation right away, exactly like in India.
Nations in Which UPI Operates Internationally
As per the National Payments Corporation of India (NPCI), UPI payments are now accessible in many overseas locations:
Singapore: partnered with PayNow to provide seamless remittances and merchant payments.
United Arab Emirates (UAE): accepted in malls, airports, supermarkets, and retail establishments via local partnerships.
Mauritius: accepted by RuPay and accessible at retail and tourism establishments.
Nepal: Fonepay integration for cashless transactions.
France: initially introduced at the Eiffel Tower, now spreading to well-known shopping destinations.
Bhutan: has been using UPI since 2021 and was one of the first nations to do so.
Sri Lanka: available at stores and airports, linked to LankaPay.
Will UPI Soon Operate in Other Countries?
By FY29, the Reserve Bank of India intends to extend the Unified Payments Interface (UPI) to 20 nations, according to a report. This initiative aims to promote international digital payments, strengthen economic ties, and increase financial inclusion. The RBI’s overall goal is to harness UPI’s success to have a global impact, and this expansion is part of that goal.
UPI International: Essential Information
1. Does Using UPI Abroad Require an International SIM?
No, although you do need a working internet connection (either by roaming or Wi-Fi). Your bank account’s phone number should remain active in case you need to confirm your OTP.
2. UPI Payments Abroad with Extra Fees?
Although there are no extra fees for using UPI International, your bank could impose a conversion fee, which differs depending on the bank and the nation. For a list of participating banks and to find out whether your bank accepts international UPI payments, visit the NPCI website.
3. Can Foreigners Use UPI?
If an NRI has an Indian mobile number and a Non-Resident Ordinary (NRO) or Non-Resident External (NRE) account connected to their UPI app, they are able to utilize UPI.
4. Which UPI Applications Perform Best Overseas?
Although apps like Google Pay, PhonePe, Paytm, and BHIM function well, their acceptability is contingent upon how successfully the local merchant integrates with UPI’s network of partners.
5. Are UPI transaction data secure abroad?
International UPI transactions are secured through encryption and two-factor authentication. The same security measures that secure domestic transactions also protect your data.
International travel is now simpler than ever because to UPI’s worldwide growth, which allows Indian travelers to take advantage of the ease of seamless payments overseas.